Antofagasta plc have declared a final dividend of 118.9 cents per share

DividendMax Ltd.

Antofagasta plc have declared a final dividend of 118.9 cents per share

The Antofagasta plc Board has declared a final dividend for 2021 of 118.9 cents per share, which together with the interim dividend of 23.6 cents per share amounts to a total dividend of 142.5 cents per share. This is equal to a 100% pay-out ratio of underlying net earnings and is consistent with the Company's dividend policy.

Other financial highlights include:

Revenue for the full year was $7,470 million, 46% higher than in 2020 reflecting a 47% increase in copper realised prices 

EBITDA was $4,836 million, 77% higher than the previous year on higher revenue, partially offset by higher operating costs

EBITDA margin increased to 64.7% from 53.4% in 2020

Cost and Competitiveness Programme (CCP) generated benefits of $131 million, above the original target of $100 million

Profit before tax including exceptional items increased by 146% to $3,477 million

Cash flow from operations was $4,508 million, 85% higher than in 2020 due to higher EBITDA

Strong balance sheet with net cash of $540 million at the end of 2021, an improvement of $622 million from the net debt position at the end of 2020

Capital expenditure increased to $1,778 million, $470 million higher than in 2020 with increased capital expenditure on the Los Pelambres Expansion project, Centinela's Esperanza Sur pit and higher mine development expenditure at Centinela

Underlying earnings per share from continuing operations and excluding exceptional items of 142.5 cents, an increase of 161% compared to 2020 with higher EBITDA partly offset by higher non-controlling interests and tax 

Exceptional items after tax for the year were a cost of $87 million, following the impairment of the Company's holding in Twin Metals and the recognition of previously unrecognised deferred tax assets

Earnings per share from continuing and discontinued operations including exceptional items were 130.9 cents, 155% higher than in 2020

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